Canal+ has been attempting to acquire control of Multichoice for nearly two years and has now acquired all the remaining shares following a Squeeze-Out of other shareholders.
The group will not delist the ordinary shares of Multichoice from the JSE and the A2X, effective Wednesday, 10 December 2025.
This is subject to obtaining regulatory approvals from the JSE, the A2X, and the South Africa Reserve Bank.
Canal+ said it remains committed to fulfilling its obligations under the conditions set by the South African competition authorities.
It thus intends to proceed with a secondary inward listing on the JSE within 9 months following the effective date of the delisting.
This aligns with the timetable and procedures envisaged in the relevant regulatory approvals.
The move marks a major change for Multichoice, with the company’s history dating back to 1985, when M-Net was founded.
With Supersport part of its catalogue, Multichoice was launched in 1995. DStv launched its first satellite service that same year.
The company would continue to expand into other African markets and launch its own streaming service, Showmax, in 2015.
In 2019, Multichoice was spun out of South Africa’s most valuable company, Naspers.
Soon after, its shares began trading on the A2X Markets on a secondary basis on Monday, March 2, 2020
The recent acquisition by Canal+ means that South African investors can no longer own a direct stake in Multichoice, and will only be able to own an indirect stake when Canal+ lists.
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